Money

MUFG unit to sell yuan bond

(Agencies)
Updated: 2010-05-17 15:05
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A unit of Mitsubishi UFJ Financial Group said on Monday it will issue 1 billion yuan ($146.5 million) in bonds on Thursday, becoming China's first foreign bank to issue yuan-denominated bonds.

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The issuer, Bank of Tokyo-Mitsubishi UFJ (China) Ltd, said it had received permission for the issue from the Chinese government in December.

HSBC Holdings and Standard Chartered also said last year that they were preparing yuan-denominated bond issues in China.